Pirate Chain Coin
Whereas many other “privacy” coins have optional privacy features, Pirate (ARRR) claims to be a 100% private cryptocurrency, as well as the first ‘z transaction-only’ chain. ZK-Snarks technology (zero-knowledge cryptography) is utilized to shield peer to peer transactions. The team claims that this has created the largest shielded private pool of funds of any privacy coin.
Pirate is protected from 51% attacks by utilizing Komodo’s dPoW, meaning its blocks are notarized onto both Komodo and Bitcoin blockchains. Attempts to mount a Sybil attack against Pirate would have to overcome the combined hashrates of Bitcoin, Komodo, and Pirate. This is an astronomical cost that would deter malicious actors. Pirate started with a fair launch – no ICO, pre-mine, and 0 dev fees.
Despite its name, Pirate Chain is not a cryptocurrency exchange. It is a network that uses a unique technology to shield 100% of its peer-to-peer transactions. This is done by using zk-SNARKs, which are cryptographic proofs that prove possession of information without revealing it.
It is also a secure payment gateway. The Pirate Pay platform eliminates the need for an intermediary, making online payments simpler. The network also promotes merchants who accept the coin.
Pirate Chain’s team includes developers, blockchain specialists, and partnership developers. They also support the Tor network, which anonymizes user web traffic.
The network has more than 4000 Twitter followers, 1400 Reddit users, and 169 Facebook followers. It also has 3876 Discord members.
The Pirate Chain coin currently has a market cap of $250 million. It’s estimated that the price will fluctuate between $0.69993 and $9.94 in 2024 and 2031. However, the market dominance has remained stagnant for a while. In the last few days, its market volume has declined. It has also gained some new developers who have contributed to its growth.
Pirate Chain also uses the Delayed Proof of Work (DPoW) algorithm, which makes the blockchain network more secure. The DPoW operates similar to the proof-of-stake method, but with more frequent data recovery.
The network has also announced a partnership with Sentinel, a multi-protocol ecosystem focused on equal access to a marketplace of distributed services. The alliance will lead by example in the blockchain industry and become a leading voice in the crypto community.